MSA 1st-quarter Profit Climbs 80 Pct As Sales Rise

PITTSBURGH (AP) â¿¿ Mine Safety Appliances Co. said Wednesday its first-quarter earnings jumped 80 percent as the respiratory and safety equipment maker saw stronger sales in both North America and Europe.

The Pittsburgh, Pa.-based company earned $23.9 million, or 64 cents per share, in the three months that ended March 31. That compares to earnings of $13.3 million, or 36 cents per share, in last year's quarter, when the company also had accounting adjustments tied to an acquisition and restructuring charges totaling $4 million.

Revenue rose 6 percent to $293.5 million.

Analysts surveyed by FactSet expected, on average, earnings of 49 cents per share on $283.2 million in revenue.

Mine Safety's products include self-contained breathing apparatuses, gas detection instruments, thermal imaging cameras and other protective gear.

The company said its North America sales climbed 5 percent to $137.5 million in the quarter, while European sales rose 12 percent to $72.5 million.

Company shares climbed 2.4 percent, or 97 cents, to $42.09 in afternoon trading, outpacing a Standard and Poor's 500 index gain of less than 2 percent.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

If you liked this article you might like

Firefighter Safety Gear Replacement to be Boom for MSA Safety

Strong On High Relative Volume: MSA Safety (MSA)

European Stocks Recoil From Further Drops in Asian Stocks

Trade-Ideas: MSA Safety Incorporated (MSA) Is Today's Strong On High Relative Volume Stock

Insider Trading Alert - DATA, ADSK And MSA Traded By Insiders